🇲🇦 Pay Suppliers in Morocco
Pay Moroccan suppliers for phosphates, textiles, automotive parts, agricultural products
T+0 (2.3s avg within Unicorn network). Save 83% vs traditional banks.
What you need to send money to Morocco
What details do I need to pay suppliers in Morocco?
To pay suppliers in Morocco you need the recipient's IBAN (24-character IBAN (Morocco MA format)), plus account number and beneficiary name. Payments typically settle in 2.3 seconds and cost 0.5% FX spread + £5 per payment.
How fast are payments to Morocco?
Payments to Morocco settle in an average of 2.3 seconds when using local rails such as SIMT (Système Interbancaire Marocain de Télé-compensation), compared to 2–3 days via traditional SWIFT.
How much does it cost to send money to Morocco?
Unicorn Currencies charges 0.5% FX spread and £5 per payment. You save about 83% versus banks (e.g. £505 vs £2924 on a £100k transaction).
Cost Comparison: Banks vs Unicorn Currencies
See how much you save on £100,000 payment to Morocco
| Cost Item | Traditional Banks | Unicorn Currencies |
|---|---|---|
| FX Spread | 2.9% | 0.5% |
| Payment Fee | £24 | £5 |
| Total Cost (£100,000) | £2,924 | £505 |
| YOUR SAVINGS | N/A | £2,419 (83%) |
| Settlement Time | 2-3 days (SWIFT) | T+0 (2.3s avg within Unicorn network) |
Local Payment Rails in Morocco
Avoid expensive SWIFT fees. We use local payment systems in Morocco for faster, cheaper settlement.
SIMT (Système Interbancaire Marocain de Télé-compensation)
Moroccan interbank clearing system
SRBM (Système de Règlement Brut du Maroc)
Bank Al-Maghrib RTGS system
M-Wallet
Mobile payment platform for businesses
Who Uses This Payment Corridor
Key Industries in Morocco
- Phosphates
- Textiles
- Automotive
- Agriculture
- Manufacturing
Average Transaction: £32k-£155k
Typical Monthly Volume: £200k-£2M
Popular Supplier Types
- Phosphate mines (Khouribga, Benguerir)
- Textile factories (Tangier, Casablanca)
- Automotive parts (Tangier, Kenitra)
- Agricultural exporters (Agadir, Marrakech)
What You Need to Know: Morocco Payments
Regulatory Considerations
- Bank Al-Maghrib FX regulations
- Moroccan Customs documentation
- VAT (20%) on goods and services
- Office des Changes oversight for FX transactions
Payment Tips for Morocco
- Morocco = Phosphate leader (70% global reserves), automotive hub
- SIMT standard for MAD payments
- Casablanca + Tangier = Main business/manufacturing centers
- EU trade ties - close integration with European supply chains
Why Choose Unicorn for Morocco Payments
Local Rails, Not SWIFT
We use SIMT (Système Interbancaire Marocain de Télé-compensation) and other local systems in Morocco. Avoid 3-4% SWIFT fees and 2-3 day delays.
83% Lower Costs
Save £2,419 on every £100,000 payment. On £200k-£2M monthly volume, save up to £72,570 annually.
Bank of Canada Supervised
Registered Payment Service Provider (PSP) and FINTRAC MSB. Full regulatory compliance for Morocco payments.
Real-Time FX Tracking
Upload supplier invoices in MAD. See live P/L as GBP/MAD rates move. Lock rates for 15 seconds before committing.
£1,000,000+ Paying Suppliers in Morocco? Save 83%
Enterprise treasury for import/export businesses with T+0 (2.3s avg within Unicorn network) settlement to Morocco
For businesses with high annual FX volume. Not consumer transfers.